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EXHIBIT 10.21
DYNACQ INTERNATIONAL, INC. CAPITAL BANK Loan Number 168
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00000 X-00 XXXX #000 10304 I-10 EAST (P.O. BOX 24337) Date APRIL 4, 1995
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XXXXXXX, XX 00000 XXXXXXX, XX 00000 Maturity Date APRIL 4, 1998
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Loan Amount $ 125,849.40
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Renewal of MRS/NLM
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BORROWER'S NAME AND ADDRESS LENDER'S NAME AND ADDRESS
"I" includes each borrower above, "You" means the lender, its
joint and severally. successors and assigns.
For value received, I promise to pay to you, or your order, at your address
listed above the PRINCIPAL sum of ONE HUNDRED TWENTY FIVE THOUSAND EIGHT
HUNDRED FORTY NINE AND 40/100 * * * * * * * * * * * * * Dollars $125,849.40
[x] Single Advance: I will receive all of this principal sum on APRIL 4,
1995. No additional advances are contemplated under this note.
[ ] Multiple Advance: The principal sum shown above is the maximum amount of
principal I can borrow under this note. On ______________________________
_____________ I will receive the amount of $____________________ and future
principal advances are contemplated.
Conditions: The conditions for future advances are ________________________
____________________________________________________________________________
____________________________________________________________________________
[ ] Open End Credit: You and I agree that I may borrow up to the maximum
amount of principal more than one time. This feature is subject to all
other conditions and expires on _____________________________.
[ ] Closed End Credit: You and I agree that I may borrow up to the maximum
only one time (and subject to all other conditions).
INTEREST: I agree to pay interest on the outstanding principal balance from
APR. 4, 1995 at the rate of 9.000% per year until FIRST CHANGE DATE.
[x] Variable Rate: This rate may then change as stated below.
[x] Index Rate: The future rate will be EQUAL TO the following index rate:
TEXAS COMMERCE BANK PRIME
________________________________________________________________________
________________________________________________________________________
[x] Ceiling Rate: The interest rate ceiling for this note is the QUARTERLY
ceiling rate announced by the Credit Commissioner from time to time.
[x] Frequency and Timings: The rate on this note may change as often as
DAILY
A change in the interest rate will take effect ON THE SAME DAY
[x] Limitations: During the term of this loan, the applicable annual
interest rate will not be more than 18.000
Less than _______________ %.
Effect of Variable Rate: A change in the interest rate will have the
following effect on the payments:
[x] The amount of each scheduled payment will change. [ ] The
amount of the final payment will change.
[ ]________________________________________________________________________
ACCRUAL METHOD: Interest will be calculated on a ACTUAL/365 basis.
POST MATURITY RATE: I agree to pay interest on the unpaid balance of
this note owing after maturity, and until paid in full, as stated below:
[ ] on the same fixed or variable rate basis in effect before maturity (as
indicated above).
[x] at a rate equal to HIGHEST RATE PERMITTED BY LAW.
[ ] LATE CHARGE: If a payment is made more than ________ days after it is due,
I agree to pay a late charge of____________________________________________
___________________________________________________________________________.
[ ] ADDITIONAL CHARGES: In addition to interest, I agree to pay the following
charges which [ ] are [ ] are not included in the principal amount above:
___________________________________________________________________________.
PAYMENTS: I agree to pay this note as follows:
[x] Interest: I agree to pay accrued interest WITH PRINCIPAL ___________________
____________________________________________________________________________
[x] Principal: I agree to pay the principal ON DEMAND, BUT IF NO DEMAND IS
MADE:______________________________________________________________________
[x] Installments: I agree to pay this note in 36 payments. The first payment
will be in the amount of $4,003.10 and will be due May 4, 1995. A
payment of $4,003.10 will be due EACH MONTH thereafter. The final payment
of the entire unpaid balance of principal and interest will be due
APRIL 4, 1998.
ADDITIONAL TERMS:
SEE ATTACHED SECURITY AGREEMENT FOR COLLATERAL DESCRIPTION.
THIS WRITTEN LOAN AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE
PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.
THERE ARE NO UNWRITTEN ORAL
AGREEMENTS BETWEEN THE PARTIES.
X /S/ Xxxxxx X. Xxxxx
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XXXXXX X. XXXXX, PRESIDENT
PURPOSE: The purpose of this loan is BUSINESS: PURCHASE ULTRASOUND MACHINE
SIGNATURES: I AGREE TO THE TERMS OF THIS NOTE (INCLUDING THOSE ON PAGE 2).
I have received a copy on today's date.
DYNACQ INTERNATIONAL, INC.
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BY: /S/ Xxxx Xxxx Xxxx
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XXXX XXXX CHAN, PRESIDENT
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DYNACQ INTERNATIONAL, INC. CAPITAL BANK EXTENSION OF SECURITY
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00000 X-00 XXXX #000 10304 I-10 EAST (P.O. BOX 24337) AGREEMENT DATED:
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XXXXXXX, XX 00000 XXXXXXX, XX 00000
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APRIL 4, 1995
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DEBTOR'S NAME AND ADDRESS SECURED PARTY'S NAME AND ADDRESS
For value received, the Debtor hereby grants the Secured Party a security
interest in the following additional collateral:
EXHIBIT 'A'
ACUSON 128XP COLOR DOPPLER IMAGING SYSTEM, 128XP/10 MAINFRAME PKG. #15872,
128XP/10 COLOR DOPPLER PKG., 128XP/10 MAINFRAME WITH 12" MONITOR, 128XP
OPERATING SYSTEM SOFTWARE LICENSE, PW DOPPLER OPTION, B-COLOR OPTION SOFTWARE,
SOFTWARE SUPPORT FOR SPECIFIED TRANSDUCERS, TRANSDUCER SWITCH OPTION, 128XP/10
COLOR DOPPLER PACKAGE, COLOR DOPPLER IMAGING HARDWARE, IMAGING CINE, C3 66MM
HIGH PERFORMANCE CURVED ARRAY TRANSDUCER #4310-5273, L7 38MM LINEAR ARRAY
TRANSDUCER #4310-3053, EC7 - 19MM CURVED-LINEAR ArRAY TRANSDUCER, ACOUSTIC
RESPONSE TECHNOLOGY (ART), NEEDLE GUIDE SOFTWARE OPTION, L5/L7 NEEDLE GUIDE
HARDWARE PACKAGE, OB CALCULATIONS APPLICATIONS SOFTWARE, COLOR DOPPLER ENERGY
OPTION, FETAL M-MODE APPLICATIONS SOFTWARE, IIE MP4000 SERIES II - MULTI-IMAGE
CAMERA #2503, SONY UP-5250MD COLOR PAGE PRINTER (NTSC) #13558-8 AND/OR PROCEEDS
THEREOF.
By signing below, Debtor acknowledges that this document describes additional
collateral which is subject to all terms and conditions of the Security
Agreement referred to above.
DYNACQ INTERNATIONAL, INC.
Authorized Signature(s) of
Secured Party - sign below only
if filing this document.
Debtor By: /s/ Xxxx Xxxx Xxxx
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XXXX XXXX CHAN, PRESIDENT (title)
Debtor
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(title)
Debtor
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(title)
